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Last updated: July 22, 2026, 11:30 PM ET

Asian Markets Rally on AI Hopes, Singapore Dollar Edges Up

Asian semiconductor stocks climbed sharply as Alphabet Inc. announced plans to spend up to $200 billion on artificial intelligence computing power, reviving optimism for industry-wide benefits. The Nikkei 225 gained 0.6%, with chipmakers leading the advance, even as geopolitical uncertainties lingered. The Singapore dollar strengthened slightly against the U.S. dollar amid subdued trading in the region. Meanwhile, China’s solar industry lobby after policy changes led to a 66% decline in installations in the first half of 2026, signaling a move towards a more sustainable path.

India Faces Inflationary Pressures, Silver Imports Decline

Swap markets are now pricing in at least a 25-basis-point rate hike in India by the October meeting, as elevated crude oil prices. Australian employment surged in June, extending prior gains and bolstering expectations for another interest rate increase from the Reserve Bank of Australia. India's silver imports have slowed sharply due to a new licensing regime, which has in turn pushed local premiums to a multi-month high. Despite these headwinds, Aditya Birla Sun Life Asset Management Co. is betting earnings to drive gains in India's equity market.

US Regulatory Scrutiny and Infrastructure Deals Underway

The business community is navigating regulatory shifts, with Lina Khan, perceived as hostile by some corporations, set to work alongside a new appointee considered more business-friendly. Three U.S. airports are planning to in favor of private security models, a move that has drawn criticism from union officials concerned about public safety. In a significant international deal, the U.S. and Japan are reportedly clashing over meltdown liability in a $40 billion nuclear power project, part of Tokyo's broader $550 billion investment commitment aimed at securing lower tariffs.

Global Business and Political Developments

Peter Beck's Rocket Lab is to rival established players like Elon Musk's Starlink and Amazon's Project Kuiper. In Taiwan, fund managers are pushing regulators to that requires devices to be locked away during market hours. The yen's slump to a four-decade low against the dollar is for the Japanese currency, raising concerns beyond just its bilateral performance. Meanwhile, in a stark reminder of ongoing violence, the mayor of a small Mexican city was shot dead in his office, marking the latest in a series of attacks on local officials.